Sale sparks next phase of enterprise park
Work has started on Phase 6 of Lincoln Enterprise Park following the sale of its biggest single unit to date.
Following 12 months of growth, Christmas decoration business Fizzco, currently based in Fillingham, has purchased 10,000 sq ft warehouse and office space on the site at South Hykeham.
The move to larger premises will enable the business to expand its operations and take on more staff to service its expanding customer base.
Nicholas Falkinder, managing director of LEP Developments which co-owns the park, said: “When we set up the park 14 years ago, one of our key aims was to boost the local economy and support job creation in the area which is why we’re so pleased to welcome Fizzco.
“The company will be our single biggest owner/occupier to date and marks a milestone in the park’s success.
“Lincoln Enterprise Park (LEP) is unique in that it supports a range of businesses and unit sizes, from growing start-ups to SMEs with an equal mix of both leasehold and freehold properties.
“Because of this we’ve been able to facilitate the expansion of many of our tenants who have progressed from leasing to purchasing, something we’re very proud of.”
Construction work got under way on Phase 6 last month and will be complete by the summer this year.
Following the sale of Phase 6 to Fizzco, LEP Developments has submitted plans to North Kesteven District Council for Phase 7. If approved, the expansion could consist of up to 21 units ranging in size from 975 sqft to 5000 sqft.
Falkinde said: “Phase 7 will give us an additional 36,000 sq ft of office, light industrial and warehouse space which will be available to buy or lease depending on the individual businesses requirements.
“We’ve already received strong interest from existing and potential new occupants wishing to expand either by purchasing freehold or leasing additional space, which is really encouraging.”
A decision on Phase 7, which would create up to 36 jobs, will be made in May.
Lambert Smith Hampton is the agent for LEP Developments.